| Thornton Estate Energy Limited |
| Registered number: |
09740508 |
| Balance Sheet |
| as at 31 March 2023 |
| 31 March |
31 March |
| Notes |
|
|
2023 |
|
|
2022 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
9,674,858 |
|
|
10,157,139 |
|
| Current assets |
| Debtors |
4 |
|
780,316 |
|
|
1,016,260 |
| Cash at bank and in hand |
|
|
935,315 |
|
|
1,150,429 |
|
|
|
1,715,631 |
|
|
2,166,689 |
|
| Creditors: amounts falling due within one year |
5 |
|
(1,322,156) |
|
|
(1,156,797) |
|
| Net current assets |
|
|
|
393,475 |
|
|
1,009,892 |
|
| Total assets less current liabilities |
|
|
|
10,068,333 |
|
|
11,167,031 |
|
| Creditors: amounts falling due after more than one year |
6 |
|
|
(9,331,396) |
|
|
(11,231,396) |
|
|
|
| Net assets/(liabilities) |
|
|
|
736,937 |
|
|
(64,365) |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Profit and loss account |
|
|
|
736,937 |
|
|
(64,365) |
|
| Shareholder's funds |
|
|
|
736,937 |
|
|
(64,365) |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| Imran Hussain |
| Director |
| Approved by the board on 12 December 2023 |
|
| Thornton Estate Energy Limited |
| Notes to the Accounts |
| for the year ended 31 March 2023 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
|
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, from the point they are complete at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life. |
|
|
Plant and machinery |
over 25 years |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
| 2 |
Employees |
2023 |
|
2022 |
| Number |
Number |
|
|
Average number of persons employed by the company |
0 |
|
0 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Electricity generating plant |
| £ |
|
Cost |
|
At 1 April 2022 |
10,599,075 |
|
At 31 March 2023 |
10,599,075 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2022 |
441,936 |
|
Charge for the year |
482,281 |
|
At 31 March 2023 |
924,217 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2023 |
9,674,858 |
|
At 31 March 2022 |
10,157,139 |
|
|
| 4 |
Debtors |
2023 |
|
2022 |
| £ |
£ |
|
|
Trade debtors |
- |
|
221,115 |
|
Other debtors |
780,316 |
|
795,145 |
|
|
|
|
|
|
780,316 |
|
1,016,260 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2023 |
|
2022 |
| £ |
£ |
|
|
Trade creditors |
269,276 |
|
81,772 |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest (note 7) |
|
257,176 |
|
257,176 |
|
Taxation and social security costs |
42,679 |
|
10,602 |
|
Other creditors |
753,025 |
|
807,247 |
|
|
|
|
|
|
1,322,156 |
|
1,156,797 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due after one year |
2023 |
|
2022 |
| £ |
£ |
|
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest (see note 7) |
|
9,331,396 |
|
11,231,396 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Related party transactions |
|
|
The Company is funded by way of an interest bearing inter-company loan from its immediate parent company, Blackmead Infrastructure Limited, of £9,331,396 (2022: £11,231,396). The maximum amount outstanding during the period was the balance brought forward at 1 April 2022 of £11,231,396. The loan is repayable at the latest in October 2029, earlier repayment being out of excess cash in the business, and interest is charged over the life of the loan at rates of 7.7% and 8.5%. At the year end £176,561 of interest was accrued (2022: £213,036) and is included in other creditors. Additionally the Company has a short term non interest bearing loan from Blackmead Infrastructure Limited of £257,156 (2022: £257,156). This loan has no fixed terms for repayment and is included in current liabilities. |
|
|
| 8 |
Controlling party |
|
|
The Company's immediate parent company is Blackmead Infrastructure Limited. Its ultimate parent company is Averon Park Limited, whose registered office is C/O Foresight Group LLP, The Shard, 32 London Bridge Street, London SE1 9SG, and which is considered by the directors to be the company's controlling party. |
|
|
| 9 |
Other information |
|
|
Thornton Estate Energy Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
C/O Foresight Group LLP |
|
The Shard, 32 London Bridge Street |
|
London |
|
SE1 9SG |
